Scenario 7-1

question 26

Multiple Choice

Scenario 7-1. Kelli is starting her new business in the mall in the coming weeks. She has finished her business plan and is now looking at planning her startup. Her business consists of a clothing store for young women who purchase medium-quality fashionable school and work clothes. She sees customer service as her strong point because she is currently in the same age group and is very clothes conscious herself. Her competitors, also located in the mall, are all older women who cater to older women who purchase fashion conscious clothes. Kelli has no business experience, yet is willing to invest her entire inheritance in her new business venture. She is single, 21, and has no current debts. She has an opportunity to rent a space in the local mall if she signs the agreement next week. Kelli is excited about being able to pick the clothes on her racks herself and then sell those clothes to young women who would look fashionable in them.
-In Scenario 7-1, which of the following is the area in which Kelli should compete as she pursues her new business venture?

• A) operational excellence
• B) product leadership
• C) customer intimacy
• D) quality leadership

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Definitions:

Inbreeding

In a professional context, the practice of consistently hiring or promoting from within the organization, potentially limiting diversity and fresh perspectives.

Insourcing

The practice of assigning tasks or projects to individuals or teams within the same organization instead of outsourcing to an external entity.

Job Fairs

Events where employers and job seekers meet to discuss employment opportunities.

Diverse Applicants

Individuals from various backgrounds and cultures seeking employment opportunities.